Solar3D Completes Uplist to the NASDAQ and Looks Forward to Significant Growth

SANTA BARBARA, CA--(Marketwired - March 06, 2015) - Solar3D, Inc. (NASDAQ: SLTD), a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, today commented on a number of recent activities that included completing an acquisition, uplisting to the NASDAQ, and receiving a significant capital infusion to fund its growth-by-acquisition strategy in the high growth solar market.

In order to uplist to the NASDAQ, Solar3D conducted a reverse stock split to meet the share price requirement. To meet the NASDAQ's shareholders' equity requirement, the Company completed a public offering of $12.5 million, led by Cowen and Company. The Company's management is confident that this uplisting and financing will allow Solar3D to reach a new level of competitive strength. By listing its shares on the NASDAQ, the Company is better positioned to attract institutional investors and analysts, as well as provide increased liquidity for its shareholders. 

"This is a major step in our acquisition strategy," said CEO, Jim Nelson. "The combination of increased capital, market credibility and equity currency make it significantly more likely that we will attract and acquire high quality solar companies, which will further strengthen Solar3D."

A recent article from Renewable Energy World cited several factors contributing to the rapid growth of the solar industry. Factors include financial incentives available from federal, state and local governments, lower module prices, a renewed emphasis on the reduction of greenhouse emissions, President Obama's pro-green agenda, widespread adoption from utility providers, and a driven consumer base. The Company's management considers Solar3D to be on the forefront of a powerful market trend, one that is growing rapidly and possesses significant growth opportunities as compared to the total U.S. electricity market. Solar3D's operating subsidiaries have already experienced 100% annual growth from 2013 to 2014.

After several weeks of due diligence and proper execution by both management teams, the Company recently completed the acquisition of MD Energy, another profitable solar systems provider, which is based in Southern California. Similar to SUNworks, the existing operating division for Solar3D, MD Energy designs, finances, monitors and maintains solar systems. In 2014, MD Energy installed 14 commercial systems totaling 3.35 megawatts of capacity, resulting in a profitable operation with estimated revenues of $6.5-7 million.